Summer in the UAE is notorious for its sweltering heat and humidity.
But the peak of this period will come to an end soon, with the Suhail star visible within the next two weeks.
The rising of this star in the southern sky is a celestial event tracked by astronomers across the Middle East. Symbolically, it marks the end of the extreme heat of peak summer and heralds the approach of cooler conditions.
Astronomers told The National they expect Suhail – a star in the constellation of Vela – will be visible from the dawn of August 22 to 24, marking the beginning of the shift towards the UAE winter.
According to Arab folklore, the night “cools down” when “Suhail rises”.
However, despite the historical and cultural significance of the star, these changes will not be immediate. September will still likely be hot and humid.
Seasonal temperatures
Between 1991 and 2020, average temperatures in September ranged from a minimum of about 29°C to a maximum of about 39°C. This is combined with humidity, which hits an average of about 54 per cent.
October tends to be the month when temperatures noticeably drop compared to the summer peak, with a minimum average of 25.5°C and maximum of 35.8°C between 1991 and 2020. The winter period follows, beginning in November.
January is traditionally the coolest month of the year, with an average minimum temperature of 15.5°C and maximum average temperature of 24.3°C between 1991 and 2020.
Where can you see Suhail?
Suhail will be visible at dawn from August 22 to August 24, Khadijah Ahmad, operations manager at the Dubai Astronomy Group, told The National.
As it is the second-brightest stars in the sky, it will be visible to the naked eye, and there are several places in the UAE that offer good viewing spots.
"The best locations are areas with minimal light pollution. Desert regions and elevated areas like the mountains are ideal. Specifically, places like Jebel Jais in Ras Al Khaimah or Liwa offer excellent visibility," Ms Ahmad said.
The star will be visible for up to eight months, starting from late August and continuing throughout winter. Visibility levels will slowly deteriorate as winter transitions into spring next year.
The period after the sighting of Suhail, Ms Ahmad added, is also associated with seasonal rains in the mountains, a traditional time for planting new date palms, fishing and pearl diving, along with various cultural practices that reflect the natural shift in weather.
Where is Suhail?
Only Sirius is brighter than Suhail in the UAE night sky.
Also known as the Star of Yemen, its appearance aligns with the ancient Al Drour calendar, which segments the year into distinct phases, each spanning 100 days.
It is situated an estimated 545 light years away.
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Cast: Akshaye Khanna, Richa Chadha, Meera Chopra & Rahul Bhat
Director: Ajay Bahl
Producers: Kumar Mangat Pathak, Abhishek Pathak & SCIPL
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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